# Health Expenditure as Mediator

## C1: Z → health_exp_gdp
- Dependent variable: `health_exp_gdp`
- N = 4048, Countries = 172, R² = 0.1734, ρ = 0.990

| Variable | Coefficient | Std Error | Sig |
|:---------|:------------|:----------|:----|
| Z_1 | -1.3358 | 2.0002 |  |
| Z_2 | 0.5092 | 0.2903 | * |
| Z_3 | -0.0263 | 0.0118 | ** |
| rgdp_growth | -0.0101 | 0.0012 | *** |
| kaopen | 0.0126 | 0.0239 |  |
| log_gdp_pc | -0.5608 | 0.1316 | *** |

## C2: health_exp → patents_per_million
- Dependent variable: `patents_per_million`
- N = 854, Countries = 53, R² = 0.0646, ρ = 0.990

| Variable | Coefficient | Std Error | Sig |
|:---------|:------------|:----------|:----|
| health_exp_gdp | 3.9490 | 9.5455 |  |
| rgdp_growth | 0.0338 | 0.7180 |  |
| kaopen | 2.2792 | 9.9827 |  |
| log_gdp_pc | 96.6810 | 56.1450 | * |

## C3: Z → patents_pm (no health control)
- Dependent variable: `patents_per_million`
- N = 1163, Countries = 57, R² = 0.1740, ρ = 0.990

| Variable | Coefficient | Std Error | Sig |
|:---------|:------------|:----------|:----|
| Z_1 | -2239.3903 | 1196.9653 | * |
| Z_2 | 348.8532 | 178.7117 | * |
| Z_3 | -13.6325 | 7.2973 | * |
| rgdp_growth | -0.7391 | 0.8426 |  |
| kaopen | 5.7565 | 10.8785 |  |
| log_gdp_pc | 43.1974 | 81.0168 |  |

## C4: Z → patents_pm (with health control)
- Dependent variable: `patents_per_million`
- N = 854, Countries = 53, R² = 0.1231, ρ = 0.990

| Variable | Coefficient | Std Error | Sig |
|:---------|:------------|:----------|:----|
| Z_1 | -1038.3279 | 1211.0638 |  |
| Z_2 | 171.5773 | 170.9863 |  |
| Z_3 | -6.6364 | 6.7382 |  |
| health_exp_gdp | 1.6227 | 9.5869 |  |
| rgdp_growth | 0.4741 | 0.7493 |  |
| kaopen | 2.6345 | 9.9791 |  |
| log_gdp_pc | -17.7452 | 74.0539 |  |

## C5: Z → hightech_exports (no health)
- Dependent variable: `hightech_exports_share`
- N = 814, Countries = 59, R² = 0.2852, ρ = 0.858

| Variable | Coefficient | Std Error | Sig |
|:---------|:------------|:----------|:----|
| Z_1 | -99.9855 | 28.1103 | *** |
| Z_2 | 12.2284 | 3.9955 | *** |
| Z_3 | -0.4238 | 0.1578 | *** |
| rgdp_growth | -0.0221 | 0.0283 |  |
| kaopen | 1.3707 | 0.4734 | *** |
| log_gdp_pc | 6.8446 | 1.5333 | *** |

## C6: Z → hightech_exports (with health)
- Dependent variable: `hightech_exports_share`
- N = 782, Countries = 57, R² = 0.3150, ρ = 0.816

| Variable | Coefficient | Std Error | Sig |
|:---------|:------------|:----------|:----|
| Z_1 | -103.9101 | 25.2561 | *** |
| Z_2 | 12.6955 | 3.6187 | *** |
| Z_3 | -0.4417 | 0.1433 | *** |
| health_exp_gdp | -0.0089 | 0.2914 |  |
| rgdp_growth | -0.0155 | 0.0299 |  |
| kaopen | 1.0643 | 0.4224 | ** |
| log_gdp_pc | 7.2416 | 1.2500 | *** |

## C7: Z → rd_efficiency (with health)
- Dependent variable: `rd_efficiency`
- N = 586, Countries = 40, R² = -0.0713, ρ = 0.989

| Variable | Coefficient | Std Error | Sig |
|:---------|:------------|:----------|:----|
| Z_1 | 3.9963 | 4.0046 |  |
| Z_2 | -0.3467 | 0.5672 |  |
| Z_3 | 0.0082 | 0.0224 |  |
| health_exp_gdp | -0.1223 | 0.0319 | *** |
| rgdp_growth | 0.0030 | 0.0026 |  |
| kaopen | -0.0077 | 0.0323 |  |
| log_gdp_pc | 0.1855 | 0.2170 |  |

## C8: Z + health_rd_proxy → patents_pm
- Dependent variable: `patents_per_million`
- N = 586, Countries = 40, R² = 0.1667, ρ = 0.990

| Variable | Coefficient | Std Error | Sig |
|:---------|:------------|:----------|:----|
| Z_1 | -2054.4200 | 1619.4637 |  |
| Z_2 | 325.1945 | 229.9039 |  |
| Z_3 | -12.7987 | 9.0895 |  |
| health_rd_proxy | 9.4990 | 5.2299 | * |
| rgdp_growth | 0.7730 | 1.0210 |  |
| kaopen | 1.7324 | 12.9590 |  |
| log_gdp_pc | 30.3529 | 88.4442 |  |
